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Failed trade negotiations

Failed trade negotiations | 16 October 2020

16 October 2020, GBP/USD

GBPUSD trading plan:

EU leaders did not commit to work "intensively" with the UK to reach a trade deal and placed the onus on Britain to "make the necessary moves" to secure an agreement. Following the conclusion of the first day of the European summit, Michel Barnier, the EU's chief negotiator said the level playing field commitments, fisheries and issues of governance remained key sticking points holding up progress on trade talks. EU leaders also called on the UK to make further concessions to reach a deal on trade, drawing criticism from UK Brexit negotiator David Frost.

Trading recommendation: range 1.2855-1.2940.

David Johnson
Analyst of «FreshForex» company
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